According to a report by the UK Parliament's Joint Committee on the National Security Strategy (JCNSS), the committee believes that crypto donations pose an "unnecessary and unacceptable high risk" to the political funding system. The committee has called on the government to ban donations to political parties in the form of cryptocurrency, and to reassess the matter after the Electoral Commission formulates statutory guidance applicable to its regulated entities. The report also points out that under the current framework, the cross-border nature, anonymity, and mixing techniques of crypto donations increase the difficulty of identifying ultimate beneficiaries, bringing risks of external interference and money laundering. (Financefeeds)
According to a report by the UK Parliament's Joint Committee on the National Security Strategy (JCNSS), the committee believes that crypto donations pose an "unnecessary and unacceptable high risk" to the political funding system. The committee has called on the government to ban donations to political parties in the form of cryptocurrency, and to reassess the matter after the Electoral Commission formulates statutory guidance applicable to its regulated entities. The report also points out that under the current framework, the cross-border nature, anonymity, and mixing techniques of crypto donations increase the difficulty of identifying ultimate beneficiaries, bringing risks of external interference and money laundering. (Financefeeds)